CPI Property Group — Capital/Financing Update 2022

Jan 27, 2022

THIS ANNOUNCEMENT RELATES TO THE DISCLOSURE OF INFORMATION THAT QUALIFIED OR MAY HAVE QUALIFIED AS INSIDE INFORMATION WITHIN THE MEANING OF ARTICLE 7(1) OF THE MARKET ABUSE REGULATION (EU) 596/2014.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND POSSESSIONS (INCLUDING PUERTO RICO, THE U.S. VIRGIN ISLANDS, GUAM, AMERICAN SAMOA, WAKE ISLAND AND THE NORTHERN MARIANA ISLANDS), ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF COLUMBIA (THE UNITED STATES) OR IN OR INTO ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT.

NOTICE OF MAKE-WHOLE REDEMPTION AMOUNT

CPI Property Group (the "Issuer")

To the holders of the U.S.\$ 450,000,000 4.750 per cent. Senior Notes due 8 March 2023; (ISIN XS1955030280; Common Code 195503028) (nominal amount outstanding: U.S.\$ 376,893,000) (the "Notes") issued under the Issuer's EUR 3,000,000,000 Euro Medium Term Note Programme (the "Programme")

27 January 2022

Reference is made to the terms and conditions of the Notes (the "Conditions") set out in Schedule 1 – Part 1 of the amended and restated trust deed dated 20 April 2018 (the "Trust Deed") constituting the Notes. Capitalised terms used in this notice (the "Notice") and not otherwise defined herein shall have the meanings set out in the Conditions and the Trust Deed.

On 14 January 2022, the Issuer gave notice to the Noteholders, pursuant to Condition 7.3 (Redemption at the option of the Issuer (Issuer Call)), of its intention to redeem all of the Notes outstanding at the Optional Redemption Amount on 31 January 2022 (the "Optional Redemption Date").

The Optional Redemption Amount of 104.830 per cent. of the nominal amount of the Notes outstanding has been determined, in accordance with Condition 7.3 (Redemption at the option of the Issuer (Issuer Call)) of the Notes, by the Determination Agent on 26 January 2022 (the "Reference Date").

This announcement has been issued on Euronext Dublin and delivered to the clearing systems, Euroclear and Clearstream Luxembourg, for onward communication to accountholders in accordance with Condition 14 (Notices) of the Notes.

Noteholders may direct any questions to the Issuer at:

David Greenbaum Chief Financial Officer d.greenbaum@cpipg.com

CPI PROPERTY GROUP 40, rue de la Vallée L-2661, Luxembourg

This announcement is released by CPI Property Group and contains information that qualified or may have qualified as inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), encompassing information relating to the redemption described above. For the purposes of MAR and

Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is made by David Greenbaum, Chief Financial Officer at CPI Property Group.